Stack, a blockchain start-up renowned for creating infrastructures for on-chain points, has successfully secured $3 million in seed funding. This significant financial push was led by Archetype, and attracted investment from notable names such as Coinbase Ventures, Scalar Capital, and A.Capital.
The funding will allow Stack to progress its mission and expand their team. It will also enable them to improve their product development, providing their customers with an enhanced infrastructure service for on-chain points, and accelerating Blockchain technology advancements.
Consequently, prominent entities such as Coinbase Ventures, Scalar Capital, and A.Capital have secured a stake in Stack, signifying their confidence in the potential growth of the start-up and Blockchain technology’s broader viability.
Ash Egan, the founder of Archetype, voiced optimism about Stack’s potential in the emerging cryptocurrency application era. He expressed his firm’s dedication to consumer products and infrastructure, and the belief that Stack’s cutting-edge technology will exert a significant influence on the cryptocurrency market. Egan envisions Stack becoming an integral part of the fast-paced, digital currency landscape, stating, “We are not just investing; we are committing to aiding Stack in its growth journey to revolutionize the cryptocurrency application era.”
Stack is positioning itself at the forefront of digital technology by setting up a structure for monitoring and assigning on-chain points. The company’s activities include point allocations, leaderboards, and trustless token redemptions, ensuring users can obliterate points for ERC-20 tokens, Ethereum, or other assets seamlessly within an efficient on-chain points system.
Stack is dedicated to facilitating an accessible and transparent points system, managing these points’ allocation, and ensuring their redemption process is seamless and efficient. With its emphasis on using ERC-20 tokens and Ethereum, Stack pledges a wide choice of exchanges, encouraging flexibility and freedom for its users.
Stack’s CEO, Graeme Boy, highlighted the transformative power of on-chain points, arguing for their benefits in loyalty programs, enhancing security, and driving adoption rates. Boy believes these points bring robustness unmatched by traditional reward programs and can remarkably lower risks for consumers and businesses.
Overall, the rise of on-chain points in the web3 industry is evident, driving community engagement and ensuring fair participation. The trend of using points systems to incentivize users to significantly contribute to the platform is rising, fostering a sense of community and shared goals. Stack’s journey represents a promising future within the web3 industry, as this model benefits projects and their communities alike.
